Company sells about 22.4 million common shares at $0.25 apiece
By Devika Patel
Knoxville, Tenn., July 2 - MYOS Corp. negotiated a private placement of stock to raise about $5.6 million on July 2, according to an 8-K filed Monday with the Securities and Exchange Commission. Chardan Capital Markets, LLC is the agent.
The company will sell about 22.4 million common shares at $0.25 per share, a 46.81% discount to the June 30 closing share price of $0.47.
Settlement is expected July 6.
The Cedar Knolls, N.J., company develops and commercializes therapeutic products, nutritional supplements and other technologies to improve the health and performance of muscle tissue.
| Issuer: | MYOS Corp.
|
| Issue: | Common shares
|
| Amount: | $5.6 million (approximate)
|
| Shares: | 22.4 million (approximate)
|
| Price: | $0.25
|
| Warrants: | No
|
| Agent: | Chardan Capital Markets, LLC
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| Pricing date: | July 2
|
| Settlement date: | July 6
|
| Stock symbol: | OTCBB: MYOS
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| Stock price: | $0.47 at close June 30
|
| Market capitalization: | $31.9 million
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